(MENAFN) Moody's' announced that it raised Turkey's bond ratings to Baa3 from Ba1 as the Turkish government agreed to start peace talks with the Kurdistan Workers' Party (PKK), reported Xinhua News.
The credit rating agency noted that PKK militants' withdrawal to Iraq will notably lessen conflict in the country and improve Turkish creditworthiness.
The upgrade would allow Turkey to attract more foreign capital, which could cause an appreciation of the country's currency, the lira.
It is worth noting that Ankara had been holding peace talks since October 2012 with PKK's jailed leader Abdullah Ocalan, who in March announced a ceasefire and withdrawal, and in May, PKK militants began to depart to Iraq.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.